Promising start for sales of QPatch™16

- Capital infusion insures growth

In the fall of 2004, Sophion Bioscience A/S launched the company’s first products and systems have now been sold to all the most important markets: North America, Europe and Japan.

A group of existing shareholders, NeuroSearch, SLS Venture, Dansk Erhvervsinvestering and Dansk Kapitalanlæg has completed an increase of Sophion’s capital base by US $3.4 million (DKK 20.3 million) to ensure the growth of the company.

Strengthening Sophion’s capital base will secure the company’s future growth and primarily be used to up-scale the company’s production of QPatch™16 and corresponding consumable QPlates™. Furthermore, the capital increase will strengthen the company’s sales and marketing efforts, in particular the sales and support activity in the American subsidiary Sophion Bioscience, Inc. With the capital infusion, Sophion is expected to become a profitable company.

Torsten Freltoft, CEO of Sophion, says: “We are very satisfied that Sophion has succeeded in developing innovative high technology products and at the same time has been able to carry through a successful marketing. This will make it possible for us to operate independently from now on.”

Chairman of the Board of Sophion and CFO of NeuroSearch Flemming Pedersen adds: “Sophion has now established its products on the market and has shown the potential to create an attractive business. NeuroSearch and the other investors are focused on ensuring the best conditions for the company’s continued growth.”

QPatch™16 is the first automated patch clamp system providing real giga seal patch clamp data on an industrial basis. The system has integrated cell preparation and QPlate™ exchange facilities enabling several hours of unattended operation. The unique flow channel system implemented in the consumable QPlates™ enables liquid exchange around the cell in less than 100 ms and provides the option to test multiple compounds or concentrations on the same cell.

Introducing automated patch clamping into ion channel drug discovery as well as safety screening will make the preclinical process much more effective, ultimately providing better quality drugs faster.

It is estimated that the total market for this kind of measuring system and consumables will grow to an annual market in the range of USD 100 million.

For more information, please contact CEO Torsten Freltoft at +45 4460 8811 or tof@sophion.dk. See also www.sophion.com.

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